Curtiss-Wright Corp. (NYSE:CW) delivered a profit and beat Wall Street’s expectations, AND beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company. Shares are down 2.28%.
Curtiss-Wright Corp. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased 19.05% to $0.5 in the quarter versus EPS of $0.42 in the year-earlier quarter.
Revenue: Rose 18.21% to $593 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Curtiss-Wright Corp. reported adjusted EPS income of $0.5 per share. By that measure, the company beat the mean analyst estimate of $0.41. It beat the average revenue estimate of $565.31 million.
Quoting Management: “Overall, our first quarter results exceeded our initial expectations, as we generated diluted earnings per share of $0.44, which includes a better than expected operating performance from both our organic businesses and our recent acquisitions,” said Martin R. Benante, Chairman and CEO of Curtiss-Wright Corporation.
Key Stats (on next page)…
Revenue increased 0.43% from $590.45 million in the previous quarter. EPS decreased 47.37% from $0.95 in the previous quarter.
Looking Forward: Analysts have a more negative outlook for the company’s next-quarter performance. Over the past three months, the average estimate for next quarter’s earnings has fallen from a profit of $0.71 to a profit $0.67. For the current year, the average estimate has moved down from a profit of $3.06 to a profit of $2.77 over the last ninety days.
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(Company fundamentals provided by Xignite Financials. Email any earnings discrepancies to earnings [at] wallstcheatsheet.com)